Non-QM Lending Guidelines
Understanding common requirements across major Non-QM lenders. These are general guidelines—specific lenders may have different criteria.
Bank Statement Loans
For self-employed borrowers who can't provide traditional income documentation
Typical Requirements
- CreditMinimum 620-640 FICO (lender dependent)
- Down Payment10-20% minimum (varies by property type)
- Documentation12 or 24 months personal or business bank statements
- DTIUp to 50% (some lenders allow higher)
- Loan AmountUp to $3-4M (varies by lender)
Common Overlays
- SeasoningBusiness must be operating 2+ years
- Reserves6-12 months PITIA required
- PropertyPrimary, second home, investment allowed
- OccupancyOwner-occupied typically gets best pricing
Income Calculation Methods
- • Personal Bank Statements: Deposits minus business expenses (typically 50% expense ratio)
- • Business Bank Statements: Deposits minus expenses, divided by # of owners
- • Hybrid: Some lenders allow combination of personal + business statements
Important: These guidelines represent common requirements across multiple Non-QM lenders. Individual lenders may have different criteria, overlays, or exceptions. Credit score, down payment, reserves, and other requirements can vary significantly based on the specific lender, loan program, property type, and borrower profile. Always consult with a licensed mortgage professional for accurate, lender-specific guidelines.